In Global Engagement, a noted economist and specialist on global multinationals discusses how most investors and policy makers don't understand how U.S. companies operate and compete in the world economy today. Trade and exports are the most popular forms of global engagement, but, as this book makes clear, foreign direct investment and the strategic utilization of foreign affiliates are the primary means by which U.S. firms compete in world markets. Successful U.S. global leaders are "insiders" in various markets around the world and do far more than serve foreign markets via exports. Only through understanding this more accurate "global engagement" will people have a true understanding of the global economy and today's business opportunities.